Creekmur Asset Management LLC Has $1.52 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Creekmur Asset Management LLC has reduced its Alphabet Inc. (NASDAQ: GOOGL) holdings by 35.9%, owning 9,847 shares worth approximately $1.5 million after selling 5,514 shares in Q1.
• Analyst ratings for Alphabet include a target price increase by KeyCorp to $230.00 and numerous analysts recommending a "buy" rating, resulting in an average rating of "Moderate Buy".
• Alphabet has announced a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 8, reflecting a 0.43% dividend yield.

Creekmur Asset Management LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 35.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,847 shares of the information services provider's stock after selling 5,514 shares during the period. Creekmur Asset Management LLC's holdings in Alphabet were worth $1,523,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Eagle Capital Management LLC lifted its stake in shares of Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares during the period. Brighton Jones LLC lifted its stake in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after purchasing an additional 506 shares during the period. Highview Capital Management LLC DE lifted its stake in shares of Alphabet by 3.6% in the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after purchasing an additional 1,003 shares during the period. Finally, Hudson Value Partners LLC grew its holdings in Alphabet by 22.7% in the fourth quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock valued at $13,873,000 after purchasing an additional 13,564 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock worth $43,523,710 in the last 90 days. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.5%

GOOGL stock traded up $1.01 during mid-day trading on Friday, reaching $193.18. 39,738,342 shares of the stock traded hands, compared to its average volume of 41,427,228. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a market cap of $2.34 trillion, a P/E ratio of 20.57, a P/E/G ratio of 1.33 and a beta of 1.00. The stock's fifty day moving average is $175.77 and its 200-day moving average is $172.93.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. During the same quarter in the prior year, the company earned $1.89 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.43%. Alphabet's dividend payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent research reports. Susquehanna boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research report on Thursday. Royal Bank Of Canada increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Thursday. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research report on Friday, June 27th. Barclays upped their target price on Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Citigroup increased their target price on Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a report on Thursday. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $211.32.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.